Mitsubishi UFJ Trust & Banking Corp Cuts Position in Southwest Airlines Co (LUV)

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in Southwest Airlines Co (NYSE:LUV) by 64.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 110,911 shares of the airline’s stock after selling 199,157 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Southwest Airlines were worth $6,926,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LUV. Raymond James Financial Services Advisors Inc. grew its holdings in Southwest Airlines by 6.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 70,551 shares of the airline’s stock valued at $3,590,000 after purchasing an additional 4,028 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Southwest Airlines by 5.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 477,379 shares of the airline’s stock valued at $24,289,000 after purchasing an additional 25,915 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Southwest Airlines during the second quarter valued at $432,000. First Trust Advisors LP grew its holdings in Southwest Airlines by 67.2% during the second quarter. First Trust Advisors LP now owns 895,811 shares of the airline’s stock valued at $45,579,000 after purchasing an additional 359,881 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Southwest Airlines by 33.9% during the second quarter. Victory Capital Management Inc. now owns 830,327 shares of the airline’s stock valued at $42,247,000 after purchasing an additional 210,186 shares during the period. Hedge funds and other institutional investors own 79.44% of the company’s stock.

Shares of LUV stock opened at $51.36 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.47. Southwest Airlines Co has a 52-week low of $47.10 and a 52-week high of $66.99. The firm has a market capitalization of $30.14 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 1.16 and a beta of 1.23.

Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, October 25th. The airline reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.02. Southwest Airlines had a return on equity of 22.27% and a net margin of 17.18%. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter last year, the business posted $0.88 earnings per share. On average, analysts predict that Southwest Airlines Co will post 4.16 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Wednesday, December 5th will be given a $0.16 dividend. The ex-dividend date is Tuesday, December 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.25%. Southwest Airlines’s dividend payout ratio (DPR) is presently 18.29%.

In related news, Director John T. Montford sold 956 shares of the stock in a transaction on Monday, November 19th. The stock was sold at an average price of $52.35, for a total value of $50,046.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.23% of the company’s stock.

Several brokerages have weighed in on LUV. Macquarie raised Southwest Airlines to an “outperform” rating in a report on Tuesday, September 18th. ValuEngine raised Southwest Airlines from a “hold” rating to a “buy” rating in a report on Monday, September 17th. Imperial Capital reaffirmed an “outperform” rating and issued a $66.00 price target (up from $60.00) on shares of Southwest Airlines in a report on Thursday, September 27th. Zacks Investment Research lowered Southwest Airlines from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Finally, Buckingham Research raised their price target on Southwest Airlines from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, September 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $65.38.

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Southwest Airlines Profile

Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.

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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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